Government Hard at Work to Protect YOU!

Before I get to the really important news of the day, let me pass on some real estate industry info. Mortgage rates ticked up today. While rates on 30 year fixed loans remain below 5% for the eighth consecutive week, they did tick slightly up today: 4.84 from 4.78. What does this mean to you the consumer? Honestly? Not much.

The real question is simply does this signal a slow and steady interest rate climb? It’s really way to early to say. It’s clear that rates will climb eventually. There’s no doubt about that. It’s matter of when, not if. Personally, I expect rates to remain ridiculously low for the time being.

Unfortunately, while the low rates have led to record refinancing rates, they have not led to as many purchases as hoped. It’s not too late, though. Time to take advantage of the low rates, buyers’ market and first time buyer tax credit!!!

OK, on to the really important local news.

CHEERS!

The Oregonian is reporting that the House has passed House Bill 3122 allowing bars that serve full 16 ounce pints to affix a sticker saying so. No more will you order a pint and receive a 15 or 14 ounce beer.

With Portland’s status as micro-brew king of the world, this is a wonderful step to keep the city lubricated. So maybe this isn’t as important as, say, universal suffrage, health care reform or the like, but it’s a nice step in the right direction. Afterall, we all want to get what we pay for.

Especially when it’s beer that we’re paying for! CHEERS!

http://www.oregonlive.com/politics/index.ssf/2009/05/house_says_yes_to_honest_pints.html